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AI Analysis of TSLA
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Green day on Friday for Tesla stock after gaining 0.656%
(Updated on May 03, 2024)

Buy or Hold candidate since May 01, 2024 Gain 0.67% PDF

The Tesla stock price gained 0.656% on the last trading day (Friday, 3rd May 2024), rising from $180.01 to $181.19. During the last trading day the stock fluctuated 3.50% from a day low at $178.54 to a day high of $184.78. The price has risen in 6 of the last 10 days and is up by 23.22% over the past 2 weeks. Volume fell on the last day by -13 million shares and in total, 75 million shares were bought and sold for approximately $13.62 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $192.01 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -14.14% during the next 3 months and, with a 90% probability hold a price between $118.02 and $164.85 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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TSLA Signals & Forecast

The Tesla stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $179.57 and $169.27. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -6.63%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Tesla stock

Tesla finds support from accumulated volume at $181.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $6.24 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 4.88%.

Our recommended stop-loss: $171.62 (-5.28%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (TSLA) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Tesla Inc. to open at $181.50, and during the day (based on 14 day Average True Range), to move between $171.64 and $190.74, which gives a possible trading interval of +/-$9.55 (+/-5.27%) up or down from last closing price. If Tesla Inc. takes out the full calculated possible swing range there will be an estimated 10.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $181.06 (0.07%) than the resistance at $183.28 (1.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Tesla Inc. stock A Buy?

Tesla holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.496 Hold/Accumulate Unchanged

Predicted Opening Price for Tesla Inc. of Monday, May 6, 2024

Fair opening price May 6, 2024 Current price
$181.50 ( 0.173%) $181.19

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for TSLA

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 187.74 3.62 %
R2 185.36 2.30 %
R1 183.89 1.49 %
Current price: 181.19
Support S1 179.12 -1.14 %
S2 177.65 -1.96 %
S3 175.26 -3.27 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 194.05 7.10 %
R2 188.14 3.84 %
R1 183.28 1.15 %
Current price 181.19
Support S1 181.06 -0.0717%
S2 164.90 -8.99%
S3 162.13 -10.52%

FAQ

What is the symbol for Tesla Stock and on which exchange is it traded?
The symbol for Tesla is TSLA and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Tesla Stock?
Tesla holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Tesla Stock?
Tesla Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Tesla Stock.

What's the current price of Tesla Stock?
As of the end of day on the May 03, 2024, the price of an Tesla (TSLA) share was $181.19.

What is the 52-week high and low for Tesla Stock?
The 52-week high for Tesla Stock is $299.29 and the 52-week low is $138.80.

What is the market capitalization of Tesla Stock?
As of the May 03, 2024, the market capitalization of Tesla is 577.851B.

When is the next earnings date for Tesla?
The upcoming earnings date for Tesla is Jul 17, 2024.
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About Tesla Inc.

Tesla Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits. It provides sedans and sport utility vehicles through direct and used vehicle sales, a network... TSLA Profile

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